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World Bank Group

Americans have more power, 2 had dual citizenship and only 1 out of 14 presidents had a different nationality.

The Head of the World Bank Group

The person nominated by the president of the United States has been selected the World Bank president since its
founding. The voting power of the United States is 15.62%, making it the largest shareholder.

First president-Eugene Meyer.

⦁ President – David Malpass

WORLD BANK GROUP

This is a group which provide financial advice and financial assistance in the form of discounted loans and grants to
countries struggling with poverty with a focus on areas such as health, education and agricultural.

2nd to 4th

Through these institutions, the World Bank Group provides financing, technical assistance, political risk insurance, and
settlement of disputes to private enterprises, including financial institutions.

The World Bank Group is an extended family of five international organizations, and the parent organization of the
World Bank, the collective name given to the first two listed organizations, the IBRD and the IDA

Together, IBRD and IDA form the World Bank, which provides financing, policy advice, and technical assistance to
governments of developing countries. IDA focuses on the world’s poorest countries, while IBRD assists middle-income
and creditworthy poorer countries.

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By the end of the war, the economy of the United Kingdom was one of severe privation. More than a quarter of its
national wealth had been consumed.

The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF).
The president of the World Bank is traditionally an American. The World Bank and the IMF are both based in
Washington, D.C., and work closely with each other.

Although many countries were represented at the Bretton Woods Conference, the United States and United Kingdom
were the most powerful in attendance and dominated the negotiations. The intention behind the founding of the World
Bank was to provide temporary loans to low-income countries that could not obtain loans commercially. The Bank may
also make loans and demand policy reforms from recipients.
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The World Bank Mission Statement

To end extreme poverty: By reducing the share of the global population that lives in extreme poverty to 3 percent by
2030. To promote shared prosperity: By increasing the incomes of the poorest 40 percent of people in every country.
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. Its five
institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable
development.

Partnering With Governments

Together, IBRD and IDA form the World Bank, which provides financing, policy advice, and technical assistance to
governments of developing countries.

Partnering With The Private Sector

IFC, MIGA, and ICSID focus on strengthening the private sector in developing countries.

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Even if our country is a dynamic in its economy, we are dependent on others and any changes in our country is reliant on
others.

Real economic growth, however, has been challenged by the COVID-19 (coronavirus) outbreak and the strict community
quarantine measures imposed in the country. Growth is now projected to contract in 2020, driven by significant
declines in consumption and investment growth, and exacerbated by the sharp slowdown in exports, tourism, and
remittances.

Nevertheless, economic growth is expected to rebound gradually in 2021-2022 assuming a containment of the virus
domestically and globally, and with more robust domestic activity bolstered by greater consumer and business
confidence and the public investment momentum.

In recent years, the Philippine economy has made progress in delivering inclusive growth, evidenced by a decline in
poverty rates and its Gini coefficient. Poverty declined from 23.3% in 2015 to 16.6% in 2018 while the Gini coefficient
declined from 44.9 to 42.7 over the same period.

Last year, the Philippine government has requested support from the World Bank to manage COVID-19 in the short and
medium term. The World Bank has provided financial support through the following:

• US$100 Million Emergency COVID-19 Response Project to support DOH’s efforts to increase the capacity of the
health system to respond to the crisis;

• US$500 million Emergency COVID-19 Response Development Policy Loan to help mitigate the impact of Covid-19
on poor and vulnerable households and provide financial relief to small and medium enterprises affected by the crisis.

In addition, the Bank provided financing through timely disbursement of the US$500 million Third Disaster Risk
Management Development Policy Loan and the Social Welfare Development and Reform Project.

Last Updated: Oct 16, 2020

As of end of August 2020, the Bank's active portfolio in the Philippines had a total net commitment of US$2.5 billion
(121,443,750,000.00 Philippine peso), consisting of 13 operations.